Andrew Bailey has told MPs that Alex Salmond's plan for the
Bank of England to continue to regulate Scottish financial
institutions after independence was "not a system in place
anywhere else."

RSA SET TO ANNOUNCE 800 MLN STG RIGHTS ISSUE

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RSA Group is set to announce a discounted rights
issue of around 800 million pounds ($1.33 billion) to bolster
its capital position as the insurer suffered a 200 million pound
fraud in its Irish business in the run-up to Christmas.

Britain should keep open the possibility of eventual
membership of the European single currency, according to a
Labour frontbencher Lord Liddle who says it would be "ludicrous"
for the UK to cut itself off from the EU mainstream for
ideological reasons.

SCOTTISH ENGINEERING FIRM WEIR ORDERS INDEPENDENCE REPORT

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One of Scotland's biggest companies, engineering group Weir
, has commissioned a report into the implications of
Scottish independence on businesses after warning that "very
serious questions" need to be answered.

The Times

CHANCELLOR ARRIVES ON CRUTCHES TO DEFEND THE EUROPEAN DREAM

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Angela Merkel will set out the case for Britain to stay in
the European Union in her address to both Houses of Parliament
today, while warning that there are limits to the powers that
can be won back from Brussels.

CO-OP TO SELL FARMS AND PHARMACIES IN SURVIVAL PLAN

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Britain's struggling Co-operative Group said on
Wednesday it had kick started the sale of its farms and was
looking at selling part or all of its pharmacy business.

Sky News

RBS Slashes Costs As Markets Chief Bows Out

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Royal Bank of Scotland will unveil plans to slash
billions of pounds from its cost-base on Thursday in an overhaul
aimed at facilitating its eventual return to private sector
ownership.

Cameron Criticised On Flood Defence Spending

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The boss of the country's biggest insurance firm, Legal &
General, has told Sky News he is concerned about a lack
of spending on flood defences.